Infrastructure will play a central role in Australia’s economic recovery – and sustainable infrastructure can deliver an even bigger rebound, finds new research commissioned by the Infrastructure Sustainability Council of Australia.
An independent cost benefit analysis into the IS Rating Scheme finds infrastructure projects rated under the IS Rating Scheme will deliver up to $2.40 in benefit for every dollar spent.
The analysis, undertaken by RPS Group, monetised benefits such as carbon, water, ecology and air emissions and found that IS-certified as-built assets have delivered accumulated reductions of 14% in energy, 27% in water and 31% in materials when compared to standard practice.
Given the central role that infrastructure will play in the next wave of fiscal stimulus, ISCA is drawing on this study to call on all governments to rebound with five practical actions:
- Mandate sustainability: Set the policy default for all infrastructure to sustainable and resilient, as well as economically productive
- Prioritise productivity multipliers: Invest in projects that that deliver both productivity multipliers and non-market (benefits, including sustainability and liveability
- Leverage procurement: Stimulate local economies by developing skills and capacity and drive nation-wide innovation across the supply chain
- Commit to best practice: Adopt recognised standards on all shovel-ready projects to measure and achieve best practice sustainability performance
- Embrace transparency: Use assured performance data to communicate the outcomes delivered for business, communities and the workforce.
More information here